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Registration number: 8106317

Hoxton Radio Ltd

Annual Report and Unaudited Abridged Financial Statements

for the Year Ended 30 June 2023

 

Hoxton Radio Ltd

Contents

Company Information

1

Abridged Balance Sheet

2 to 3

Notes to the Unaudited Abridged Financial Statements

4 to 7

 

Hoxton Radio Ltd

Company Information

Director

David Harris

Registered office

11 Stainsbury Street
Bethnal Green
London
E2 0NF

Accountants

Simon Kingsley
58 Montague Road
Hackney
London
E8 2HW

 

Hoxton Radio Ltd

(Registration number: 8106317)
Abridged Balance Sheet as at 30 June 2023

Note

2023
£

2022
£

Current assets

 

Cash at bank and in hand

 

345

4,153

Creditors: Amounts falling due within one year

(4,657)

(2,175)

Total assets less current liabilities

 

(4,312)

1,978

Creditors: Amounts falling due after more than one year

(1,917)

(2,629)

Net liabilities

 

(6,229)

(651)

Capital and reserves

 

Called up share capital

5

1

1

Retained earnings

(6,230)

(652)

Shareholders' deficit

 

(6,229)

(651)

For the financial year ending 30 June 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

All of the company’s members have consented to the preparation of an Abridged Balance Sheet in accordance with Section 444(2A) of the Companies Act 2006.

 

Hoxton Radio Ltd

(Registration number: 8106317)
Abridged Balance Sheet as at 30 June 2023

Approved and authorised by the director on 30 August 2023
 

.........................................

David Harris

Director

 

Hoxton Radio Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 30 June 2023

1

General information

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is:
11 Stainsbury Street
Bethnal Green
London
E2 0NF
England

These financial statements were authorised for issue by the director on 30 August 2023.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These abridged financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These abridged financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

Hoxton Radio Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 30 June 2023

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2022 - 2).

4

Debtors

Debtors includes £Nil (2022 - £Nil) due after more than one year.

 

Hoxton Radio Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 30 June 2023

5

Share capital

6

Dividends

Interim dividends paid

   

2023
£

 

2022
£

Interim dividend of £15,905.00 (2022 - £5,000.00) per each Ordinary

 

15,905

 

5,000

         

7

Related party transactions

 

Hoxton Radio Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 30 June 2023

Director's remuneration

The director's remuneration for the year was as follows:

2023
£

2022
£

Remuneration

11,703

8,943

Contributions paid to money purchase schemes

824

416

12,527

9,359